Examlex
If culture is defined as a psychological construct,the existence of multicultural identities suggests the existence of multiple psychocultural systems of representations in the minds of multicultural individuals.
Marginal Cost
The amount of money spent to manufacture one additional unit of a product or service.
Adam Smith
Was an 18th-century Scottish economist and philosopher, known as the "father of modern economics" for his influential work on the nature and causes of the wealth of nations.
Economies of Scale
Cost advantages that enterprises obtain due to scale of operation, with cost per unit of output decreasing with increasing scale.
Marginal Output
Refers to the additional output that results from using one more unit of a production input, such as labor or capital, in the production process.
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